Supply and demand. The supply of N64 games is only going down, since cartridges don’t last forever. However the demand is staying steady if not going up as people start feeling nostalgia and wanting to play the games again on original hardware. The result is that the prices go up, because people are less willing to part with what they have because it’s slowly becoming harder to find and replace.
Now if Nintendo decided out of the blue they were going to rerelease the N64, original hardware and all, with a whole swath of the original games then prices would likely go down at least in the short term as people realize that “hey, the market for this is going to become flooded. Why would someone want this old cartridge that might not work consistently when they could buy one straight out of the factory?”
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